FAQs
Recently Added Questions
- What can I expect when applying for a mortgage with Mortgage Center?
- I’m thinking about buying a foreclosed home. Are there any special items to consider?
- Who is Mortgage Center and what are the advantages of getting my mortgage through my credit union vs. any other lender?
- How do I know which program is right for me?
- Can I get advice from a loan originator even if I’m not ready to apply just yet?
Most Popular Questions
All Categories
Looking for a Home:
- What is a buyer’s agent / broker?
- Home buying negotiation tips – How to avoid over paying
- What are the benefits of owning a house? What are the advantages over renting?
- Is now the time to buy?
- Do I need to find a home before I apply?
- Should I try to buy on my own or should I use an agent?
Buying a Home:
- I’ve heard about getting a Pre-Qualification, but what’s the advantage if I haven’t even started looking for a house yet?
- Are there any programs for members with lower down payments?
- Can I get advice from a loan originator even if I’m not ready to apply just yet?
- Who is Mortgage Center and what are the advantages of getting my mortgage through my credit union vs. any other lender?
- I’m thinking about buying a foreclosed home. Are there any special items to consider?
Applying for a Mortgage:
- What information should I have available when I am ready to apply?
- Why is there a deposit? Will I get it back if I don’t qualify?
- How much of a mortgage can I qualify for?
- How will a past bankruptcy, foreclosure or short sale affect my ability to obtain a new mortgage?
- How does my past credit history affect me?
- What does a lender look for when approving my loan?
- How much will getting a mortgage cost?
- How do I know which program is right for me?
- What can I expect when applying for a mortgage with Mortgage Center?
The Mortgage Process:
- What is an escrow account? Why do I need one?
- How will my taxes be paid?
- What does an appraisal do for me?
- Do I need an appraisal and an inspection?
- How long will it take to close my loan?
- Will my fixed rate mortgage payment fluctuate throughout the life of the loan?
- The importance of a property inspection.
- What is private mortgage insurance (PMI) and how does it benefit me?